Talisman may expand in Poland

Talisman Energy is considering expanding its presence in Poland by adding shale gas licenses, according to the company's manager for the country.

"We're thinking about expanding in Poland, but not via an acquisition of a company," Tom Maj said. "We're looking at some selected licenses, which we could also swap, although nothing has been decided."

Shale gas development, where rock formations are horizontally drilled and broken apart using water, chemicals and sand under high pressure in a process known as hydraulic fracturing, has driven a surge in U.S. gas output and damped prices. Poland holds Europe's largest reserves, sufficient to meet the country's needs for 300 years, the U.S. Energy Information Administration said in April.

Calgary-based Talisman owns majority stakes in three of 102 licenses Poland has granted to explore for shale gas.

Talisman may co-operate with Grupa Lotos SA if it finds gas, Maj said.